Dutch supermarket chain Jumbo has reacted to reports that it may end its backing of the Jumbo-Visma team, telling Cyclingnews it is considering if its "sponsorship policy still matches our vision and ambitions and the needs of our customers."
Jumbo confirmed to Cyclingnews that its current sponsorship with the cycling team ends in 2024. They said their intention is to remain associated with the team in the future but did not specify if this will be in a lead title sponsor role.
Dutch newspaper Algemeen Dagblad suggested Jumbo could become a co-sponsor rather than leave the team and the sport. Visma is a major European software company and could perhaps step up to fill Jumbo's position, while other brands have become sponsors of the team after Van Aert's prominence in the Classics and Jonas Vingegaard's Tour de France victory.
Jumbo is a privately owned company with a turnover in excess of €10 billion from its supermarkets located in the Netherlands and Belgium, and it has been the main sponsor of the Jumbo-Visma cycling and skating team since 2015.
The women's and men's cycling squad – which the group has a contract with through to the end of 2024 – includes Marianne Vos, Wout van Aert and Primoz Roglič. The team also topped the UCI men’s rankings and won the Tour de France with Jonas Vingegaard in 2022.
Outside cycling, Jumbo sponsors ice skating in the Netherlands and Formula 1 Dutch pilot and current World Champion Max Verstappen.
"We are working together on a long-term successful future for Team Jumbo-Visma and it is our intention to remain associated with the team in the future," Jumbo told Cyclingnews.
"Jumbo is currently looking at its positioning. We are also looking at whether our sponsorship policy still matches our vision and ambitions and the needs of our customers. Our current sponsorship agreement with Team Jumbo-Visma runs until the end of 2024. As soon as there is something to report, Jumbo will do so."
The Jumbo-Visma team did not respond when contacted by Cyclingnews about the Jumbo supermarket sponsorship.
The report in Algemeen Dagblad on Jumbo's possible change in sponsorship strategy comes after turbulent times for the company.
The supermarket has already withdrawn much of its sponsorship from motorsport after the Public Prosecution Service launched an investigation into money laundering. Former General Director Frits van Eerd was detained for questioning as part of the ongoing investigation and resigned from his position at the company. Jumbo commissioned a fact-finding investigation saying in their annual report that “No criminal offences within Jumbo have emerged from this.”
In December 2022, Chairman and Dutch supermarket entrepreneur Karel van Eerd, who had led the company through its period of increasing sports sponsorship, died at the age of 84.
“The changes within the company have led to a moment of reflection, also with regard to sports sponsorship,” said Algemeen Dagblad.
While the Jumbo-Visma team may be thriving, the supermarket chain is facing an increasingly challenging business environment, pointing in its annual report to uncertainty in the market and increases in operating costs, which despite the continued revenue growth in 2022 led to reduced earnings.
The group added that “our mission to put the customer first and achieve sustainable growth for the future nevertheless remains paramount.”
The sponsorship model of professional cycling means the team depends on direct funding and title sponsorship to survive, with a number of squads recently disappearing after losing their sponsors.
The B&B Hotels-KTM squad collapsed last December after failing to find a major backer. It is still unclear if the collapse of Silicon Valley Bank will have any direct impact on the cycling world because it is one of the sponsors of Women’s WorldTour team EF Education-TIBCO-SVB.
